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Sunday, August 8, 2010

Abhay Devilal Rathod v. DCIT (ITAT Ahd) Merely by giving evidence of identity and creditworthiness of donor, genuineness cannot be taken to be established automatically The assessee is required to discharge the onus of submitting complete details of

Abhay Devilal Rathod v. DCIT (ITATAhd)Merely by giving evidence of identityand creditworthiness of donor,genuineness cannot be taken to beestablished automaticallyThe assessee is required to discharge the onus of submitting complete detailsof gifts before the AO; merely becausemoney is claimed to have been transferredthrough banking channel, it isnot enough to establish the genuinenessof gift; the human probability has to be considered as to why donor isprompted to give gift to the assessee

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